Lukoil, officially known as Lukoil Oil Company, is a prominent player in the electricity sector, specialising in petroleum and other oil derivatives. Headquartered in Russia, the company operates extensively across various regions, including Europe, the Middle East, and Africa. Founded in 1991, Lukoil has achieved significant milestones, establishing itself as one of the largest oil companies globally.
The company’s core offerings include crude oil production, refining, and the distribution of petroleum products, which are distinguished by their commitment to quality and innovation. Lukoil's strategic focus on sustainable practices and technological advancements has solidified its market position, making it a leader in the energy sector. With a robust portfolio and a reputation for reliability, Lukoil continues to drive progress in the oil and energy industry.
+8 vs industry average
Lukoil’s score of 19 is higher than 54% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Industry Intensity
Petroleum Electricity is among the most carbon-intensive industries
Industry performance
The Petroleum Electricity industry has reduced its overall emissions by 30% since 2018
Emissions trajectory 2020 – 2026
Reported emissions
Scope 3 accounts for ••• of total emissions.
Lukoil's reported carbon emissions
Lukoil's Carbon Emissions and Climate Commitments
In 2023, Lukoil, headquartered in RU and operating in the "Electricity by petroleum and other oil derivatives" sector, reported Scope 1 emissions totalling approximately 36.9 billion kg CO2e and Scope 2 emissions of about 4.9 billion kg CO2e. The combined Scope 1 and 2 emissions for 2023 amounted to approximately 41.8 billion kg CO2e.
For 2022, Lukoil's Scope 1 emissions were approximately 41.2 billion kg CO2e, with Scope 2 emissions at approximately 5.7 billion kg CO2e, resulting in a combined Scope 1 and 2 total of approximately 46.9 billion kg CO2e.
In 2021, the company's Scope 1 emissions were around 36.4 billion kg CO2e and Scope 2 emissions were approximately 5.1 billion kg CO2e, leading to a combined total of about 41.5 billion kg CO2e.
Lukoil has set a near-term target to reduce controlled greenhouse gas (GHG) emissions (Scope 1 + Scope 2) by 20% compared to the 2017 level, with a target year of 2021. The 2017 baseline for Scope 1 and 2 emissions was approximately 50.9 billion kg CO2e. The company did not disclose Scope 3 emissions data for the reported years.
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Lukoil’s Climate Goals (2030 & 2050)
2 goals2024
20% reduction in Scope 2
To reduce controlled GHG emissions (Scope 1 + Scope 2) by 20% compared to the 2017 level.
2030
62% reduction in total GHG
Vs 2019 baseline. Validated by SBTi. Includes full supply chain.
2040
50% reduction in Scope 3 intensity
Across purchased goods and services and logistics.
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Scope 3 top emissions categories
No scope 3 category breakdown has been disclosed yet.
Climate initiatives
Science Based Targets Initiative
Carbon Disclosure Project
The Climate Pledge
UN Global Compact Climate Champions initiative
RE 100
Climate Action 100
Emissions comparison with industry peers
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Lukoil
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